Business, international

Irish subsidiary lets Microsoft slash taxes in U.S. and Europe

Article Abstract:

Ireland has become a tax shelter for intellectual property, at the expense of the United States. Round Island One Ltd. of Ireland, a subsidiary of Microsoft Corp., helps the software giant save at least $500 million in taxes in most of Europe and shields billions of dollars from taxation in the United States. The Irish company has gross profits of approximately $9 billion per year and paid Ireland $300 million in taxes last year.

SEC probe focuses on Asian revenue of Belgian firm

Article Abstract:

The article discusses a SEC investigation of Belgian company Lernout and Hauspie Speech Products N.V. because of the firm's sudden increase in software sales in Asia. The SEC probe will focus on the firm's dealings with corporate customers to which it has financial connections.